Language

Google Translate Disclaimer

A number of pages on the Government of Saskatchewan's website have been professionally translated in French. These translations are identified by a yellow box in the right or left rail that resembles the link below. The home page for French-language content on this site can be found at:

Renseignements en Français

Where an official translation is not available, Google™ Translate can be used. Google™ Translate is a free online language translation service that can translate text and web pages into different languages. Translations are made available to increase access to Government of Saskatchewan content for populations whose first language is not English.

Software-based translations do not approach the fluency of a native speaker or possess the skill of a professional translator. The translation should not be considered exact, and may include incorrect or offensive language. The Government of Saskatchewan does not warrant the accuracy, reliability or timeliness of any information translated by this system. Some files or items cannot be translated, including graphs, photos and other file formats such as portable document formats (PDFs).

Any person or entities that rely on information obtained from the system does so at his or her own risk. Government of Saskatchewan is not responsible for any damage or issues that may possibly result from using translated website content. If you have any questions about Google™ Translate, please visit: Google™ Translate FAQs.

CROWNS TO REMAIN PUBLICLY-OWNED --- WIENS

Released on June 25, 1997

The Government of Saskatchewan will retain ownership of Saskatchewan

Power Corporation (SaskPower), Saskatchewan Telecommunications Holding

Corporation (SaskTel), SaskEnergy Inc. (SaskEnergy) and SGI CANADA

(SGI), Crown Investments Corporation Minister Berny Wiens announced

today.



The minister released the results of the government's comprehensive

review of Crown corporations undertaken in 1996 and 1997, the most

extensive review of public ownership ever conducted in this province.



"We will continue to own these Crowns," Wiens said. "And we will be

making major changes to the way they operate so that they can more

readily adapt to the rapidly changing competitive environment.



"Today's announcement does not apply to the Saskatchewan

Transportation Company (STC), the other Crown corporation which was

part of the review, because the challenges identified for it are

different than those of the other four Crowns, and a separate report

is being prepared on its future.



"In determining whether or not the Crown corporations should remain as

public enterprise, we examined them in reference to two criteria: Do

they continue to serve a public policy purpose? And are they

financially viable?" Wiens said. "If they are to remain Crown

corporations, the answer has to be yes to both questions."



"The consultants' reports on the individual Crowns, done as part of

the review process, indicate that they are currently financially

viable, and can remain so, if given the ability to adapt more

freely to the changing markets in which they operate.



"It must be stressed, however, that conditions might change.

Variables within the competitive marketplace might impact the

corporations' future ability to either meet public policy goals

or remain financially viable. As such, the corporations have

been instructed to examine options for strategic partnerships,

mergers or new found community involvement within areas of their

business lines. As well, they will be required to review, on an

ongoing basis, their corporate valuation."



Wiens said the Crowns were examined against three broad public

policy goals. The Crown corporations must:



Ensure access to reasonably-priced utility goods and

services on an equitable basis, which would not

otherwise be available to all or some of Saskatchewan's

residents and which includes the commitment to quality

customer service from the Crown corporations;



Advance the social and economic policies of the people

of Saskatchewan, based on the values of the

Saskatchewan community, with the commitment of using

the Crown corporations as a tool to help stabilize the

province's workforce, as well as for skill training and

development within the workforce; and



Operate efficiently and competitively to provide a

return on public investment in the form of dividends

and improved asset value.



"As the four corporations under consideration continue to meet

these public policy goals, and as they are financially viable,

they meet the criteria to serve as Crown corporations."



Wiens said that the government will make changes in the

governance of Crown corporations to ensure that they can operate

more independently in their particular marketplaces.



"It will be the responsibility of government to set the overall

strategic direction and performance goals for the Crown sector,"

Wiens said. "But the Crown corporation boards of directors will

be given the authority over virtually all of the corporations'

day to day activities, in order to meet the goals set for them."



This additional authority of the boards will require a process of

board member training and evaluation, to be put in place by CIC,

and will also involve strengthening the boards through the

addition of more board members with industry-related backgrounds.



These changes will take some time to implement, and some boards

will move faster than others in assuming greater

responsibilities.



"But, at the end of the day, we will have stronger Crowns which

will be more adaptable to their business climates, and better

positioned to compete as our country and our province becomes

more and more deregulated," Wiens said.



- 30 -



For more information, contact:



John Wright

Crown Investments Corporation

Regina

Phone: (306) 787-4553

We need your feedback to improve saskatchewan.ca. Help us improve